Numbers, spreadsheets, financial reports, and tax returns—if any of these pique your interest, read on to learn more about the field of accounting!
Obtaining an accounting bachelor's degree is the first step towards becoming an accountant. After that, enroll in tax, finance, and accounting classes. Next, choose a focus area (such as tax accounting or auditing) and work toward obtaining internships to obtain practical experience.
Seek to become a Certified Public Accountant (CPA) upon graduation. Both passing the CPA exam and gaining some professional experience are prerequisites. To remain current in the field, make sure you never stop learning. You can begin your career as an accountant in a variety of businesses or accounting companies once you have your degree and CPA certification. Read on for more information.
Accountants handle different tasks on the daily. They check accounts and financial statements to make sure they are correct. They also perform regular and yearly audits and take a look over a business's financial activities to make sure everything is in order.
Preparing tax returns is another big part of their job. They often offer advice on making processes more efficient and saving costs. Plus, they provide risk analysis and help with forecasting to plan for the future.
If you’re thinking about becoming an accountant, several specialties can help center your career:
Some accountants might have specializations, such as health, business, nonprofits, tech, or government organizations.
As you learn more about this profession, you may wonder, “How long does it take to become an accountant?” Preparing accurate financial reports requires a high level of knowledge and skill.
If accountants make the correct calculations or file accurate taxes, people can avoid missing out on deductions and credits, owe more money to the IRS, or face financial penalties. To avoid this, accountants spend at least four to five years in training to adequately prepare for the field. Here are the steps involved in this training:
The first step to becoming an accountant is getting into college. You will need to obtain a Bachelor’s degree in accounting or business. Accounting degrees are generally preferred because they provide students with more targeted foundational skills and knowledge.
These programs typically take four years to complete. Considering many accountants are CPA certified, students tend to opt for combined accounting degrees that include both a bachelor’s and master's in accounting.
This program takes five years to complete and provides students with the necessary credits to sit for their CPA exam, which we will discuss further in this guide.
While students complete their education they should pursue accounting internships to begin gaining experience in the field and honing the skills required to thrive in it. These internships will enable you to expand your network and build professional connections that can help you secure a full-time position.
Your internship can also become full-time employment if you prove you’re an asset to the team!
The most successful business employees of any field typically specialize in a given field. This elevates their “jack-of-all-trades, master-of-none” identification to someone who is a master at their craft. You can specialize in the field by continuing your education in a streamlined area.
Some examples of specialized accountants include management accounting, public accounting, and forensic accounting. Focusing on any of these fields will help you become a specialized accountant.
While not all accountants are Certified Public Accountants (CPAs), these professionals have more expertise and can perform more complex duties than regular accountants. Accordingly, CPAs are more marketable and sought after by employers.
Depending on the state you live in, you will have to meet certain requirements to become CPA-certified. Most states require candidates to have 150 semester hours of education. Typical four-year bachelor’s degrees are only 120 semester hours.
While the most popular way for students to receive the extra 30 credits is to enroll in a five-year professional accounting program that combines a Bachelor’s and Master’s degree in accounting, there are other ways to meet this requirement:
On top of these educational requirements, students must pass an exam which involves four sections:
This exam is known to be rigorous and challenging! Students are recommended to study at least 300–400 hours to prepare for it. To officially gain their CPA designation, accountants must also have at least two years of public accounting experience. The majority of accountants are actively employed as they study for and write the CPA.
There might be better paths for you than becoming a CPA. Depending on your goals and areas of expertise, other accounting certifications may be more beneficial for you. These certifications can help enhance your career and get promotions and raises.
Here are some of the best accounting certifications:
It is not uncommon for accountants to hold several certifications throughout their careers. As you gain more experience in accounting, your interests may shift, or you may want to earn more comprehensive training to qualify for more jobs!
And that’s it! This is your final step! You’ve already done the hard part up until now, so this step should be relatively smooth as you acquire what you’ve been working towards.
Remember that a vital part of becoming an accountant is networking, like any other field of business. At every step of your journey, you should seek opportunities to market yourself and grow your network. Attend social events, contact previous employers who hired you as an intern, and ask if they’re looking for work. Get your skills noticed!
Choosing the right career can be tough. If you're considering accounting or another field, try our free Career Quiz!
Honing the following skills will not only ensure you’re prepared to become an accountant but that you can be the most efficient and marketable accountant possible:
If you possess these skills and are willing to continue enhancing them throughout your education and career, you will be set for a prosperous career in accountancy!
Choosing an accredited university is essential to ensure your degree is valuable. Look for schools with smaller classes and experienced professors to help you succeed. The classes you take for an accounting degree depend on your focus.
For example, if you choose a management concentration, you'll take statistics, finance, management, marketing, law, and ethics courses. An accounting concentration includes business and personal taxation, investments, cost accounting, fraud auditing, and general accounting.
If preparing for the CPA exam, you'll study international finance, information systems, investments, and operations management. Internships are valuable for gaining experience and might help you earn certifications faster after graduation.
Usually, you need to complete 120-125 credit hours to get a Bachelor of Science (BS) in accounting. The exact requirements depend on the program and concentration you choose.
Becoming an accountant typically takes about six to seven years, depending on your path and goals. First, choose a university program that fits your career ambitions in accounting. Then, enroll in a four-year degree program focusing on accounting, finance, and taxation.
During years two to four, specialize in your chosen area and take courses preparing you for certification exams like the CPA. Gain practical experience through internships.
After earning your Bachelor of Science in Accounting, look for work in finance. You might consider a master's degree for more opportunities. If you're aiming for CPA certification, finish any extra coursework needed.
In year six, focus on studying for and passing the CPA exams. Afterward, gain experience and keep learning to advance in your accounting career.
The final part of the accounting equation is your career outlook! Accounting is diverse and relevant to almost every sector, so accountants are in steady demand. The job market for these professionals is expected to increase by around 4% by 2032, with thousands of new job openings each year.
Your next question might be, “How much do accountants make?” and we have the answer! On average, accountants make $85,761 a year, but their salary tends to increase with their experience.
A Certified Public Accountant (CPA) must balance chances for professional development and advancement with the drawn-out process of certification.
CPAs are in great demand in various industries, including public accounting, corporate finance, government, and non-profits. They provide better earning possibilities and enhanced professional prospects. The value of the CPA designation is highlighted by the respect and recognition that accompany it.
But in order to become a certified public accountant, you have to take the 16-hour Uniform CPA Examination and get a bachelor's degree with 150 semester hours—typically more than a regular four-year degree. Furthermore, fulfilling ethics standards in certain areas and obtaining relevant accounting experience under a certified CPA vary by state and are necessary procedures.
In spite of the time and money commitment the potential for high workload and stress, especially during peak periods like tax season, pursuing a CPA license can be an excellent choice for those dedicated to a career in accounting and finance.
This journey also includes a dedication to continued education, as CPAs must complete Continuing Professional Education (CPE) to maintain their certification, ensuring they remain at the forefront of the field.
Thinking about an accounting career? Here are quick answers to common questions about the time, qualifications, salary, and steps needed. Let's get started.
It typically takes about four years to become an accountant.
A Bachelor's degree in accounting or business, and some experience.
In the U.S., about $85,761 a year on average. Extra compensation falls between $9,191 and $17,156.
Get a bachelor’s degree in accounting. Next, pass the CPA exam if needed. Pick a specialty. Network with others. Use job websites. Join campus recruiting programs. Ask professors for advice.
Finish a five-year professional accounting degree. Take the CPA exam. Get internships or co-op jobs while studying. Start working right after you graduate.
Take AP or IB math and economics classes. Join activities like DECA. Learn business and financial skills.
If you’re ready to do the coursework and get certified, accounting could be a great fit. After reading this, you should feel more confident about a career in accounting. There’s always room to grow. As you learn and gain experience, more opportunities will come your way.
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